BluMont Capital Reports Results for First Quarter of Fiscal 2006.TORONTO -- BluMont Capital Inc. (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension VENTURE:BCC (Blind Carbon Copy) The field in an e-mail header that names additional recipients for the message. It is similar to carbon copy (cc), but the names do not appear in the recipient's message. Not all e-mail systems support the bcc feature. See fcc. ) today announced unaudited financial results for the first quarter of fiscal 2006.
Review of the 3-Month Period Ended
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December 31, 2005 December 31, 2004
(thousands except per (thousands except per
HIGHLIGHTS share amounts) share amounts)
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Assets Under
Management ("AUM") $768,300 $645,200
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Total Revenues $9,016 $6,392
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Total Performance
Fees Included in
Total Revenues $6,709 $4,372
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Operating Income(i) $1,772 $1,516
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Net Income $1,112 $854
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Earnings Per Share $0.03 $0.03
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(i) Operating Income Operating Income The profit realized from a business' own operations. Notes: This would not include income from things such as investments in other firms. Also referred to as operating profit or recurring profit. is a non-GAAP (generally accepted accounting principle) earnings measure. This measure is before the deduction of stock-based compensation expense. The Corporation believes that its shareholders, creditors, other stakeholders Stakeholders All parties that have an interest, financial or otherwise, in a firm-stockholders, creditors, bondholders, employees, customers, management, the community, and the government. and analysts may want to analyze BluMont's results based on this performance measure. BluMont experienced AUM Aum (ä·ōōmˑ), n.pr 1. in Ayurveda, the subtle, noiseless cosmic vibration in which consciousness existed in the beginning, before the elements appeared. growth of 19% adding approximately $123 million of new assets since December 31, 2004. Total revenues increased 41% from $6.4 million in the quarter ending December 31, 2004 to $9.0 million in the quarter ending December 31, 2005 predominantly as a result of increased performance fees realized. Growth occurred in all areas of revenue; 9% in the predictable revenues of management fees, investment counselling and redemption fees Redemption fee A fee some mutual funds charge when an investor sells shares within a specified short period of time. and 53% growth in BluMont's less predictable revenues (performance fees). Operating income increased to $1.8 million in the current quarter from $1.5 million in the comparable quarter of fiscal 2005 and net income increased to $1.1 million from net income of $0.9 million. For detailed financial statements for the quarter, including Management's Discussion and Analysis Management's discussion and analysis (MD&A) A report from management to shareholders that accompanies the firm's financial statements in the annual report. It explains the period's financial results and enables management to discuss topics that may not be apparent in the financial , please refer to BluMont's website at www.blumontcapital.com/main/financial_statements.htm or SEDAR SEDAR System for Electronic Document Analysis and Retrieval SEDAR Southeast Data, Assessment, and Review at www.sedar.com. This press release may contain forward-looking statements with respect to BluMont and its products and services, including its business operations Business operations are those activities involved in the running of a business for the purpose of producing value for the stakeholders. Compare business processes. The outcome of business operations is the harvesting of value from assets and strategy and financial performance and condition. Although management believes that the expectations reflected in any such forward-looking statements are reasonable, such statements involve risks and uncertainties. Actual results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from expectations include, among other things, general economic and market factors, including interest rates, business competition, changes in government regulations or in tax laws, and other factors discussed in materials filed with applicable securities regulatory authorities from time to time. About BluMont Capital BluMont Capital is a leading provider of alternative investment products to Canadian investors. Specializing in hedge funds, the firm offers investors innovative investment solutions that provide enhanced diversification and robust return potential. BluMont employs 40 people nationwide and has approximately C$770 million in assets under management Assets Under Management (AUM) is a term used by financial services companies in the mutual fund and money management or investment management business to gauge how much money they are managing. . BluMont is 46.1% directly owned by Toronto-based Integrated Asset Management Corp. (TSX VENTURE:IAM IAM - Interactive Algebraic Manipulation. Interactive symbolic mathematics for PDP-10. ["IAM, A System for Interactive Algebraic Manipulation", C. Christensen et al, Proc Second Symp Symb Alg Manip, ACM Mar 1971]. ), a leading alternative asset investment management company with approximately C$3 billion in assets and committed capital under management. Further information on BluMont Capital can be found at www.blumontcapital.com. The TSX Venture Exchange TSX Venture Exchange Originally called the Canadian Venture Exchange (CDNX), this was a result of the merger of the Vancouver and Alberta stock exchanges. The goal of TSX Venture Exchange is to provide venture companies with effective access to capital while protecting investors. Inc. has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. BluMont Capital Inc. (TSX VENTURE:BCC) |
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